Key vote set for big Monument Square project

The Troy City Council will vote tonight on whether to sell the old City Hall site to developers proposing a $31.5 million apartment and retail project. (Renderings below.)

It’s widely expected councilors will agree to sell the land for the negotiated price of $1 million. Doing so will clear the way for Troy City Center LLC to secure financing for the project and begin construction. It will also largely settle the looooong debate over what to do with the One Monument Square property, where the building in the photo above is now being demolished.

It won’t, however, end wrangling over where to permanently locate City Hall, now housed at a leased site on Sixth Avenue. Click here for more about the proposal by Troy City Center, a pairing of the Nigro Cos. and the Connecticut-based Richman Group.